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As expected, the yellow metal's price has broken out of the borders of the descending triangle pattern. It occurred in a sharp move to the 1,751.30 level. Afterwards, a retracement back up to the 1,765.00 mark occurred. During the early Wednesday's trading hours, the pair had declined to the 1,755.00 level. In the case that the rate declines, the 1.750.00 mark
Since the middle of Tuesday's trading, the USD/JPY has been trading in limbo around the 110.50 level. The rate has been kept down by the 55 and 200-hour simple moving averages. In the meantime, support was being provided by the 110.45 level. In the case that the rate declines, it could reach the 110.00 level. Note that the 110.00 level was
The GBP/USD passed the support of the 1.3860 level and declined to the support of the lower trend line of the channel down pattern. The trend line provided the pair with enough support for a recovery to the 1.3860 level. The 1.3860 mark managed to provide enough resistance for the pair to decline. By the middle of Wednesday's trading, the
The decline of the EUR/USD has reached below the 1.1900 level. Moreover, on Tuesday and Wednesday, the rate confirmed the 1.1910 level as resistance. In the near term future, the rate was expected to continue to decline. In theory, the rate should aim at the technical support of the weekly S1 simple pivot point at 1.1866. In the case that
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The yellow metal has continued to respect the support zone of the previously described descending triangle pattern. However, on Tuesday the 55 and 100-hour simple moving averages near 1,780.00 started to provide resistance. In the meantime, the 200-hour SMA had reached the triangle. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June
Since Monday's trading hours, the USD/JPY currency exchange rate has been fluctuating above the 110.50 mark. By large, the situation had not changed, as the rate remained between the support cluster near 110.50 and the resistance of the 55 and 100-hour simple moving averages. In the near term future, the pair was expected to get squeezed in between the resistance and
The GBP/USD bounced off the combined resistance of the upper trend line of the channel down pattern, the 100 and 200-hour simple moving averages on Monday. On Tuesday, the rate had retreated to the support of the 1.3860 level, which provided support on June 22. In the near term future, the pair was expected to fluctuate sideways until resistance approaches from
The EUR/USD failed to pass the resistance of the 200-hour simple moving average on Monday. Moreover, during the day the SMA forced the pair into a short period of trading below the support zone of 1.1925/1.1920. During the early hours of Tuesday's trading, the pair had clearly retreated below the support zone. In theory, the currency exchange rate should decline,
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Starting the week, analysts spotted a descending triangle pattern on the yellow metal's hourly candle chart. The price has been trading between a support zone at 1,770.00/1,775.00 and a descending trend line since June 21. In theory, the commodity price would trade in the pattern until a break out from it occurs. If the price breaks out to the upside, it
On Monday, the USD/JPY currency exchange rate was facing the resistance of the 55 and 100-hour simple moving averages near 110.80. In the meantime, the pair had the support of the weekly simple pivot point, the 200-hour SMA and the last week's low level in the 110.56/110.49 zone. In the near term future, the pair was expected to get squeezed in
On Monday, a channel down pattern was spotted. The pattern was formed in the aftermath of the rate passing the resistance of the 1.3940 level and testing the 1.4000 mark. In the meantime, note that the pattern's upper trend line was being strengthened by the resistance of the 200-hour simple moving average. If the pattern's resistance holds on Monday, the rate
The EUR/USD started the week's trading by finding support in the 1.1920 level and reaching the resistance of the 200-hour simple moving average, which had recently approached the rate from above. In the case that the rate passes the resistance of the 200-hour simple moving average near 1.1940, the pair would most likely extend the surge. An extension of
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